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BookGround >> The Wal-Mart Effect


2/26/07 4:38 PM
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GolfBaller
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Edited: 26-Feb-07
Member Since: 04/11/2006
Posts: 869
 
...by Charles Fishman is a great read if any of you are looking for an interesting non-fiction book. I am stunned by the impact this company has on the global economy and I think you'll be surprised as well. I'll save the lecture to avoid a FRAT but if you have any questions about it, feel free to ask.
2/26/07 10:14 PM
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rkjmd
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Edited: 26-Feb-07
Member Since: 01/03/2007
Posts: 1957
Wal-Mart is where I buy all my supplements. Great quality and selection at a low, low price. So I can imagine. Can you briefly summarize some salient points?
2/26/07 10:51 PM
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GolfBaller
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Edited: 26-Feb-07
Member Since: 04/11/2006
Posts: 870
Sure rkjmd. Based on a survey conducted by a major United States market research firm (which asked to be kept anonymous due to fear of upsetting Wal-Mart): There are 155 million U.S. Residents (59 million households) within 5 miles of Wal-Mart and 285 million U.S. residents (U.S. Population = 293 mil.) who live within twenty-five miles of Wal-Mart. Doing the math, Americans spend $35 million dollars every HOUR at Wal-Mart, 24 hours a day, 7 days a week, 365 days a year. Wal-Mart has approximately 16 percent of the total United States grocery market (this means that in just 15 years, they went from virtually non-existent as a grocer to selling more than Kroger and Safeway combined). Wal-Mart employees 1.6 million people. That is greater than the population of Idaho. A family of four with a $52,000 dollar a year income saves almost $1,000 a year JUST by shopping at Wal-Mart. Those are all fun little facts but the real core of the book that is very interesting is the total effect the company has on an area when it moves in. Although it may employee several hundred people, it forces many businesses to close and the net gain of jobs after about 5 years is only around 50. I also found it astounding how Wal-Mart actually causes mis-calculations in the Consumer Price Index. In a nutshell, Wal-Mart literally causes the U.S. inflation rate for groceries to be overstated by about 15% every YEAR. That is amazing when you consider a few tenths of a percentage point of inflation can move markets. Those are pretty much the highlights. If you'd like a more detailied explanation on any part I'd be glad to do so but I definitely encourage you to read it.
3/1/07 11:58 PM
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rkjmd
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Edited: 01-Mar-07
Member Since: 01/03/2007
Posts: 2108
Thanks. Maybe I will. A good friend of mine was a manager at Wal-Mart for a few years. In some ways he was very impressed, and in other ways he felt that they didn't really value their employees.

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